Bulgaria Shields Businesses from High Electricity Costs Until March

The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March. Under the new measure, the full difference will be covered when the exchange price exceeds 180 leva per megawatt-hour, effectively preventing electricity bill increases.

Energy Minister Zhecho Stankov emphasized the program's dual objectives: halting inflationary processes linked to electricity prices and safeguarding employment for tens of thousands of workers. He warned that the full extent of the law would be applied against any sectors or businesses attempting to raise prices for goods and services, particularly essential items, under the pretext of high electricity costs.

Business and labor representatives have welcomed the decision. Vasil Velev, chairman of the Association of Industrial Capital in Bulgaria, called on member companies to refrain from increasing prices or implementing staff layoffs due to electricity expenses. The unions, meanwhile, plan to push businesses to increase wages using the money saved through state compensation.